Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 386 $ 30,200 21,200 11,200 138,000 86,200 ? Finished (sold) t labor ired: termine the amount of overhead applied to each job in April. 306 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $638,000 cash in April. Job 387 $ 36,200 19,200 10,200 Additional Information a. Raw Materials Inventory has a March 31 balance of $81,200. b. Raw materials purchases in April are $503,000, and total factory payroll cost in April is $366,000. c. Actual overhead costs incurred in April are indirect materials, $50,750; indirect labor, $23,750; factory rent, $32,2 factory utilities, $19,750; and factory equipment depreciation, $51,750. 307 223,000 153,000 Finished (unsold) Job 308 308 $ 103,000 108,000 2 In process April Total $ 0

Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 386 $ 30,200 21,200 11,200 138,000 86,200 ? Finished (sold) t labor ired: termine the amount of overhead applied to each job in April. 306 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $638,000 cash in April. Job 387 $ 36,200 19,200 10,200 Additional Information a. Raw Materials Inventory has a March 31 balance of $81,200. b. Raw materials purchases in April are $503,000, and total factory payroll cost in April is $366,000. c. Actual overhead costs incurred in April are indirect materials, $50,750; indirect labor, $23,750; factory rent, $32,2 factory utilities, $19,750; and factory equipment depreciation, $51,750. 307 223,000 153,000 Finished (unsold) Job 308 308 $ 103,000 108,000 2 In process April Total $ 0

Name: Marco Company shows the following costs for three jobs worked on in A
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Description: Marco Company shows the following costs for three jobs worked on in April.Job 306$ 30,20021,20011,200Balances on March 31Direct materials used (in March)Direct labor used (in March)Overhead applied (March)Costs during AprilDirect materials usedDirec

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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